OPEC+ Agrees to Keep November Oil Output Targets Steady

The OPEC+ Joint Ministerial Monitoring Committee agreed during a videoconference meeting on Sunday to keep oil production targets steady for November. At its 68th meeting, the committee reviewed current market conditions and reaffirmed the central role of the Declaration of Cooperation in supporting the market.

This decision comes after a period where OPEC+ had been raising output targets for much of 2026 following years of prior production cuts, though the sources note that most of those increases remained on paper rather than translating to actual physical output changes.